Investment in Canadian Building Construction Rose 5.9% in March 2021

Statistics Canada (StatsCan) reported on Wednesday (5-12-21) that investment in Canadian building construction rose 5.9% to $18.6 billion (CAD) in March 2021. For the eleventh consecutive month, residential construction investment also increased, rising 7.6% to $14.0 billion (CAD) in March 2021. Investments in single family units jumped 10.7% to $ 7.8 billion (CAD) with Quebec leading the way with an increase of 30.4%. Growth in multi-unit construction continued and was up 3.9% to $6.2 billion. Non-residential construction investment rose 1.1% to $4.6 billion in March, with all components posting slight increases. Despite this gain, the commercial and industrial investment components were below pre-COVID-19 pandemic levels.